Should I convert to a bi-weekly payment schedule?
It may surprise you that most banks and mortgage companies collect two to three dollars for every dollar that you borrow! However, there is a way to accelerate mortgage payoff using a method called Bi-Weekly Mortgage Payments. This program is implemented by dividing your monthly mortgage payment in half and paying it every other week -- resulting in a net effect of paying an extra payment toward principal each year.
More Tools & Calculators
Borrowing Guide
- How much home can I afford?
- Should I pay extra points for a lower interest rate?
- How do closing costs impact the interest rate (APR)?
- What are the tax savings generated by my mortgage?
- Should I convert to a bi-weekly payment schedule?
Mortgage Payment
Rent vs. Buy
Refinancing
All advertisements for the sale or rental of dwelling units published in The Washington Post are subject to the federal Fair Housing Act, which makes it illegal to advertise "any preference, limitation, or discrimination because of race, color, religion, sex, handicap, familial status or national origin, or intention to make such preference, limitation, or discrimination." State law forbids discrimination based on factors in addition to those protected under federal law.
The Washington Post will not knowingly accept any advertising for real estate which is in violation of the law. All persons are hereby informed that all dwellings advertised are available on an equal opportunity basis.
To complain of discrimination call the U.S. Department of Housing and Urban Development toll-free at 800-669-9777. The toll-free telephone number for the hearing impaired is 800-927-9275.